February 17th, 2009
04:33 PM ET
14 years ago

Romney unloading two of his mansions

[cnn-photo-caption image= http://i2.cdn.turner.com/cnn/2009/images/02/17/art.romney.cnn.jpg caption=" The Romneys are selling their ski retreat in Utah, as well as their home in Belmont, Massachusetts."]

(CNN) - He has been estimated to be worth in excess of $250 million, but former Republican presidential candidate Mitt Romney may just be belt-tightening along with the majority of Americans.

Romney, the former business whiz and governor of Massachusetts, is looking to unload two of his four mansions, collectively valued in the currently-sour real estate market at close to $10 million.

The more expensive of the two homes is a 9,500 square foot cabin on 11 acres in Deer Valley, Utah, listed at $5.25 million. The property comes complete with 9.5 bathrooms and is entirely furnished with custom-made furniture. The real-estate Web site Zillow.com describes the 10-year-old ski cabin as the "perfect retreat" with "several gathering areas [that] provide enough space for lots of family and/or guests."

Also on the market is the Romneys' chief residence in the posh suburban Boston neighborhood of Belmont, where most home prices run well into the millions. The Romney house, which comes with a tennis court and 2.5 acres of land, has yet to be listed, though the Boston Globe estimates the price will be set at $3 million - $1 million less than what the home was worth 2 years ago.

Eric Fehrnstrom, a spokesman for Romney, said the moves are not an indication the nation's flagging economy has affected the Romney family.

"Now that the children are all grown with families of their own, the Romneys have too much space and are downsizing and simplifying," Fehrnstrom said.

The former governor is still holding on to a large retreat on Lake Winnipesaukee in New Hampshire and a recently purchased $12 million home in La Jolla, California. Fehrnstrom also told CNN Romney plans to buy a condominium in Boston.

"They want to maintain Massachusetts as their official residence, but it will be an apartment-size dwelling," he said. "Massachusetts is where the Romneys raised a family, where Mitt Romney started his business and where he was governor for four years, so they have an emotional attachment to the state and many friends there."

Filed under: Mitt Romney
soundoff (415 Responses)
  1. Soccer Nana

    "James February 17th, 2009 12:15 pm ET

    Mitt Romney earned his money before he went into politics not like many of the dems that seem to get Rich after politics. My guess is that he didn't get the help of conviticed felon Tony Rezko like Obama did to purchase his HydePark Mansion."

    What does President Obama have to do with this? Secondly, President and Mrs. Obama purchased their home at market value for 1.65 million dollars; the real estate agent who sold them the property is the wife of Rezko; the Obamas used their own money to purchase their home and they also purchased some additional land (at market value) next door to their home from the Rezko's. This is all legal; so, what is your point?

    President Obama earned his millions from the sale of his books and his wife's six figure income.

    Go find a clue, hater.

    February 17, 2009 01:59 pm at 1:59 pm |
  2. Ron

    If a "cabin" has 9.5 bathrooms, I wonder how many square feet an "apartment sized" place in Boston will have.

    February 17, 2009 02:00 pm at 2:00 pm |
  3. Alan

    I think Romney just wants to make sure he has LESS mansions than McCain did when he runs again.

    February 17, 2009 02:01 pm at 2:01 pm |
  4. Tim

    Don Woolsey, are you kidding me?! Romney as a self-made man?! Mitt's pop was governor of Michigan, a presidential candidate, head of American Motors, and from a wealthy family of Mormon royalty. That's what got him into Harvard Business School. A smart, talented man, but it helps to have those connections.

    February 17, 2009 02:01 pm at 2:01 pm |
  5. john

    Mitt Romney is a joke. He is way out of touch with regular Americans. Why does CNN give him attention??

    Him and Sarah Palin should run together in 2012. Make it easy for president Obama to win again.

    February 17, 2009 02:02 pm at 2:02 pm |
  6. cory

    "downsizing and simplifying" preparing for a presidential run in 2012 is more like it...

    February 17, 2009 02:02 pm at 2:02 pm |
  7. Brandon

    I can almost guarantee that Mitt has donated more to charities than any Democrat politician. (Probably combined)

    What a hypocritical statement! Give me a break!

    If Mitt comes back in 2012 with a less attacking tone than the 08 primaries, he will be a prime choice for Presidential nominee.

    February 17, 2009 02:02 pm at 2:02 pm |
  8. Jeffrey Root

    Wow Romney. Way to set the example as a Mormon. Isn't owning 4 houses being worldly? Haven't you ever heard of provident living? I understand you are selling two of your four houses but you still will have 2 more mansions. Why? because you can. Come on. Set the example. It's probably time you learned what is most important on this Earth. You are a Christian. Besides the Temples, how many mansions would Jesus have?

    February 17, 2009 02:02 pm at 2:02 pm |
  9. Johnny

    Yes, lets mock Romney for succeeding where we (most) have all failed yet aspire to reach. What a bunch of sore losers the American public is.

    This article has nothing to do with his politics, and even less to do with GWB, so why go there? These comments really show the debate skill of the loudest liberal voices, seriously.

    February 17, 2009 02:02 pm at 2:02 pm |
  10. Ken

    Buy it before November and you'll get an $8,000 tax break. Whoo-hoo!

    February 17, 2009 02:03 pm at 2:03 pm |
  11. Patrick

    To Sean Nally:

    You do realize that study after study has shown that conservatives give far more to charities than liberals do right?

    February 17, 2009 02:03 pm at 2:03 pm |
  12. Norom

    demwit February 17th, 2009 11:54 am ET

    Funny how some see the Amercian dream as a bad thing…

    You mean like the Republicans bleating about Obama's "mansion" in Chigago? Which, by the way, looks like a dump compared to Romney's "vacation" home

    February 17, 2009 02:03 pm at 2:03 pm |
  13. Brian

    Karen from Phoenix, you do realize that the Obamas are worth millions of dollars as well, right? For that matter so are Pelosi, Reid, and pretty much Obama's entire cabinet (after all, they neglected to pay more in taxes than what is likely your annual salary). The Democrat leaders are just as rich and spoiled as the Republicans. The only difference is that the rich spoiled Democrats pretend that they care about the working poor in order to get votes before they shaft them.

    February 17, 2009 02:04 pm at 2:04 pm |
  14. andrew

    some of you people act like Obama really understands the american people any more thatn Romney does. Obama is worht several million dollars and lived in a Hyde Park Loft, hardley tough living. ALL presidential candidates are rich, theres nothing wrong with success....why are we critisizing a succesful man for being a little more thrifty, would you all own small apartments if your net worth was 26 mil??? i doubt it.

    February 17, 2009 02:04 pm at 2:04 pm |
  15. Wanda in Montana

    Clip this article for 2012. At least he only has four mansions and can undoubtedly count to four. Unlike McCain.

    February 17, 2009 02:05 pm at 2:05 pm |
  16. Danny in Chicago

    Romney is an idiot and needs to get a personality.

    When I think of the American dream – I definitely don't think of Mitt Romney.

    I mean, who names their kid 'MITT' anyway besides wealthy out of touch people anyway.....

    Seriously people – you don't think that Mitt had help from family and contacts he got FROM his family? He is a product of this BAD generation of people who have taken very bad care of this country. Don't give him ANY breaks..... He's already rich, are you?

    Rich and wealthy people are in the doghouse as far as I am concerned. They've proven that they don't care about anyone but themselves!

    Mitt is one of those people......period!

    February 17, 2009 02:06 pm at 2:06 pm |
  17. Death to Freeptardia

    Mittens Romney, the uber-wooden, phony-baloney flip-flopper, stands as much chance of ever becoming president as ... John McCain.

    February 17, 2009 02:06 pm at 2:06 pm |
  18. C


    February 17, 2009 02:06 pm at 2:06 pm |
  19. No Mitt, Not Ever

    There are a lot of Dems who don't take handouts, just as there are a lot of Republicans who do. Grow up people. Welfare was created to protect children (who can't work), and if it weren't needed we would not have it.

    Stop trying to put everyone in a neat little box regarding something you no nothing about.

    It's good Mitt never took handouts, and I'm happy for his success, but he will never be my president. Not because he's rich, but because he is clueless when it comes to leading this great country. The US is not a business, but a country–there is a difference.

    February 17, 2009 02:06 pm at 2:06 pm |
  20. naqib

    Noah February 17th, 2009 12:21 pm ET

    "Liberals worry about everyone else's money."

    Agree... and mostly how to spend it.

    February 17, 2009 02:07 pm at 2:07 pm |
  21. Mortgage meltdown

    Good luck unloading 2 houses in this market

    February 17, 2009 02:07 pm at 2:07 pm |
  22. Wanda in Montana

    Matt: Our new neighbors purchased 8 acres next to us and said they were going to build a "fishing shanty." It's over 10,000 sq. ft. with a so-called "bunk house" next to it that's about the same size as our 2800 sq. ft. house. Rich people have no clue how "real" Americans live.

    February 17, 2009 02:08 pm at 2:08 pm |
  23. Lisa Libra

    Gee, maybe they could spread their wealth around and help some families who are losing their homes? All the money from just ONE of those houses could help out hundreds of people.
    I imagine that in a perfect world people like the Romney's, you know so Godly and all, would actually want to help out others who are 'suffering'.

    Nope, not gonna happen. Why? Because the biggest 'Christians' on this planet are nothing of the sort. More smoke blown up the butts of Americans.

    Helping people out, even it is through your wallet, is 'Christian' after all. I'm guessing that if they called up a random lawyer or a mortage firm they could find tons of folks who with only say 3000.00 a piece could save them and let them keep their homes. Have their children not worried about where they are going to live, watching their parents fight because they are nothing more then stressed.

    Novel idea. I just wish politcians really meant it when they say they really care about the citizens of the USA.

    Prove it.

    February 17, 2009 02:08 pm at 2:08 pm |
  24. John

    Mitt, Times are tough, huh!!!

    You are forced to sell your mansion (I don't think you are going to sell is voluntarily, I bet you are one of us who are forced to downsize), and you rally on all the morning shows and/or talk shows opposing Stimulus Bill. Good job.. Keep it up!

    I agree with Jared I would keep Deer Valley home 😉

    February 17, 2009 02:08 pm at 2:08 pm |
  25. Matt in Florida

    Give me a break. He's not tightening his belt, he's running for president. That is why he attacks Obama every day. He should take the money from the sale of the homes and spend it on "Mormons are people too" ads. Otherwise he'll be winning the bronze again in '12. His candidacy depends completely on what happens with the economy. When the Obama recovery kicks into high gear, Mitt will disappear.

    Obama '12

    February 17, 2009 02:09 pm at 2:09 pm |
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